Economics Level 3

L3ECO
Course Description

Teacher in Charge: Mr B. Choromanski

The economics course at Level 3 will enable students to attain economic literacy and understanding which will allow them to develop a continuing interest in contemporary economic issues. The skill of reasoning clearly by means of analytical techniques will allow students to present and interpret economic data and arguments in a clear and concise manner.

General
This course aims to:
1. Demonstrate understanding of the efficiency of market equilibrium
2. Demonstrate understanding of the efficiency of different market structures using marginal analysis
3. Demonstrate understanding of micro-economic concepts
4. Demonstrate understanding of government interventions to correct market failures
5. Demonstrate understanding of macro-economic influences on the New Zealand economy

This level of study is organised into five major Topics.
Theme 1 The Conceptual basis of Economics
You will demonstrate an understanding of Market Equilibrium, different Market Structures using Marginal Analysis, Understand Micro-Economic Concept, Understand how Government intervenes to correct Market Failures and understand Macro-Economic influences on New Zealand Economy.
Theme 2 Processing
You will learn how to process, present and analyse statistical data in relation to two contemporary economic issues.
Theme 3 Economic Models
The economic models assessed will be selected from the supply and demand model for the goods and /or service markets, resource markets (e.g. labour market) and internationally traded goods markets. For a comprehensive understanding, candidates may be required to demonstrate an understanding of elasticity concepts.
Theme 4 Government Interventions
Demonstrate understanding of government interventions to correct market failures.
Theme 5 Macro-economic influences
Demonstrate understanding of macro-economic influences on the New Zealand economy


Recommended Prior Learning

Achievement of: 15 Credits in Level 2 in Economics


Credit Information
Assessment
Level
Internal or
External
Credits
L1 Literacy Credits UE Literacy Credits Numeracy Credits
A.S. 91399 v2 Economics 3.1 - Demonstrate understanding of the efficiency of market equilibrium
3
E
4
Y
4r,4w *
A.S. 91400 v2 Economics 3.2 - Demonstrate understanding of the efficiency of different market structures using marginal analysis
3
E
4
Y
4r,4w *
A.S. 91401 v2 Economics 3.3 - Demonstrate understanding of micro-economic concepts
3
I
5
Y
5r *
A.S. 91403 v2 Economics 3.5 - Demonstrate understanding of macro-economic influences on the New Zealand economy
3
E
6
Y
6r,6w *
Total Credits
Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 19

* Only students engaged in learning and achievement derived from Te Marautanga o Aotearoa are eligible to be awarded these subjects as part of the requirement for 14 credits in each of three subjects.

Total Credits Available: 19 credits.
Externally Assessed Credits: 14 credits.
Internally Assessed Credits: 5 credits.

Pathway Tags

Statistician, Economist, Market Research Analyst, Foreign Policy Officer, Financial Adviser, Quantity Surveyor, Managing Director/Chief Executive, Policy Analyst, Tertiary Lecturer, Valuer, Management Consultant, Urban/Regional Planner, Insurance Claims Officer, Auditor, Actuary, Finance Manager, Bank Worker